Peabody Energy (BTU) has halted plans to seek a $500 million private debt, which Jefferies (JEF) was marketing earlier this year to private credit firms, Bloomberg reported Tuesday, citing people familiar with the matter.
The sources told Bloomberg that the debt was intended to help refinance Peabody Energy's $2.1 billion bridge facility for its planned acquisition of Anglo American's steelmaking coal business. According to the report, sources also said Peabody Energy was looking into a $800 million bond to refinance the remaining loan.
Peabody Energy said last week it put the acquisition under review after a fire at Anglo American's Moranbah North Mine and that it was still in talks with Anglo American.
Peabody Energy and Jefferies Group did not immediately respond to MT Newswires' requests for comments.
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